VICTORY PLACE III

Project Summary

Victory Place III includes 75 efficiencies and one-bedroom residences at the Victory Place Campus in Phoenix, a collaboration between Cloudbreak Communities and the Phoenix VA Health Care System, Bethesda Community Baptist Church, and the nonprofit organization, U.S. VETS.

Of the 75 Phase III residences,14 are available to households earning at or below 60 percent of area median Income, 34 for those at or below 50 percent, and 27 for those at or below 40 percent. Numerous veteran-specific services and outreach programs, including job training, are offered at Victory Place, which makes the community attractive to men and women who have served in the military.

Victory Place III is part of the Victory Place Campus, and brings the capacity to serve veterans up to 177, with 70 program-related beds and 107 permanent affordable housing units with supportive services. Supportive services such as case management, crisis intervention and 24/7 support are provided to all residents by U.S. VETS, Phoenix, while life skills development, support groups and food assistance is provided primarily by Bethesda Community Baptist Church. Co-location of Virginia social workers provides direct case management for veterans in certain programs and campus clinical support as well as connection to overall healthcare.

Address
834 E. Jones Avenue
Phoenix, Arizona

Project Type
Veterans Housing – New Construction 75 units
Construction Cost – $5.1 million

Developer
Cloudbreak Phoenix III, LP

Financial Partners
Lender: City of Phoenix,
Arizona Department of Housing

Equity: National Equity Fund, LISC

Architect
Togawa Smith Martin Architects

Financing
Low Income Housing Tax Credit Project
State and City Funding

  • ICON Builders’ attention to detail at Victory Place III produced 75 new homes for homeless veterans that would stack up to any market rate new housing in Phoenix. As a tax credit investor, we appreciate their expertise in affordable housing programs and understanding of our sensitivity to delivering projects on-time to meet tax credit delivery projections. During the construction, a large window supplier had gone bankrupt, but ICON Builders’ proactive approach resulted in no time delays due to the supplier failure. ICON Builders’ problem solving while on the job helped ensure our veterans project was delivered on-time and within budget. Furthermore, they did an exemplary job of hiring local Veterans to be utilized in the construction of Victory Place III.

    Debbie Burkart National VP, Supportive Housing, National Equity Fund
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